A company associated with famous North American uber gold bull Pierre Lassonde is underwriting a A$10.2 million non-renounceable rights issue being undertaken by explorer Southern Cross Gold.

Costco, which started offering gold bars last year online and in a few stores, has been selling out within hours. Gold buyers, especially those on the younger side, say it is a hedge against catastrophe.

A potential future new gold mine near Melbourne, Victoria, has been sketched out by capital markets firm Bell Potter.

Southern Cross Gold intends to dual list on one of the Canadian exchanges. SXG is up 900% since listing in 2022.

Southern Cross (ASX:SXG) mining intends to list on a Canadian stock market in mid-May. The market is strongly supporting the move – SXG shares were up 15.84% to $1.98 per share at 11am AEDT on Tuesday.

On March 5, Southern Cross reported its best drill intercept yet at the Sunday Creek project, with hole SDDSC107